As the market has turned soft it has become perfect for buyers. We are seeing some of the best buying opportunities available in the last six years. But there is still some risk and we still do see buyers overpaying. So we have put together this pledge for all the buyers who are or wish to work with the Meier Team. We are here and love to help you!!
Our Buyer’s Pledge
The Meier Team to our Clients
- Digital inventory access. We will access digital platforms to search for all listings meeting your criteria. StreetEasy currently aggregates about 80% of the market’s listings at any one time. That is why we do not solely rely on StreetEasy, but instead, we widen our search to include Corcoran (the #1 real estate firm in New York City) website and several other digital platforms. Whether it is a direct listing, a co-broker listing, or a FSBO, we will add it to your search. We believe it is mission critical that we provide you a complete and comprehensive inventory so that you can make an educated decision.
- Negotiating and getting to close. We will aggressively negotiate with the seller and constructively influence the process, bringing to bear our extensive deal experience. We know a majority of the brokers/agents in the industry and can work with them and help to get an accepted offer on terms that are attractive to you. Our goals for your purchase:
- Get you the best price. We will guide and advise you through the offer process and work on your behalf to bring you the best value possible.
- Work with your terms. If a seller is refusing a certain contingency, we will have a plan B and C to address the issues. It may be a situation where a strong voice is needed or possibly a creative reworking of certain deal points allowing both sides to get to a signed contract.
- Get the deal to contract. Approximately 25% of the contracts sent out (“meeting of the minds”) are not signed. They go unsigned for many reasons including, better offers, lawyers unable to work out terms, or sellers getting cold feet. The Meier Team gets over 95% of our buyer side contracts signed — we do what it takes to get the job done.
- Board package process and coordination. We handle the board process, including the board package. About 15% of co-op board applications are rejected each year. The Meier Team rejection rate is less than 2%. We work with the Board, managing agent, and seller’s agent to make sure your application is approved. We also eliminate much of the heavy lifting since we spearhead the process and coordinate with all relevant parties. Our team has handled over 1,000 board applications and that experience is critical in helping to ensure a positive outcome with the Board. Currently, even condominium applications have become difficult and though they are almost never rejected, the additional work does create friction in getting transactions closed.
- We save you money. A small minority of agents, lawyers and/or bankers have little or no idea what is a CEMA loan (Consolidation Extension Modification Agreement) and how it might benefit the buyer — we close them regularly. We also work with your lawyers to see if we can produce an economic benefit by limiting the transfer tax using a CEMA loan. We also work with your title representative to make sure you are receiving an aggressive rate or possibly find a way to secure a wholesale rate that saves you about 30% on title insurance. In all, these savings can be between 1% and 3% of the purchase price. We also protect you, negotiating away transfer taxes, sponsor fees including taxes, legal fees, and bulk fees sponsors look to charge a buyer when possible.
- Lawyer and banker interface. We will help coordinate with the bank to make sure you get the best rate, terms, program, and service. We will work with your bank lawyer to make sure the closing happens in a timely manner. Often times, we are the only professional helping to making sure you are not charged unnecessary fees for extending the period for a locked-in rate or associated escrow fees from the lender.
- Walkthrough experience by your side. In almost every transaction, we are the only professional with you during the walkthrough. We are best suited to look and find problems, and at the same time, we know what is a problem and what is not. We work with the seller, their agent and the lawyers to make sure these problems do not become your problems. We are tough negotiators — we fight to get escrows reversed, concessions made and/or a reduced purchase price if there is a problem at a walkthrough. Most buyer agents and all seller agents close their eyes to these problems and say its normal — we promise never to do that. We believe it is part of our fiduciary responsibility to help make sure the property you are purchasing does not become a problem burden as soon as you close.
- Move in logistics. We have a Rolodex filled with vendors that we can recommend, especially movers and painters. In addition, we have contacts for interior designers, repair professionals, dog walkers, and nannies. We also can help secure them for you at great rates because all of these service vendors offer us a referral fee that we pass along to you in the form of savings. Also, these vendors work extra hard for you as they want to keep getting the referrals from The Meier Team.
- Down the road. If you have an issue with the property any time after your closing, we will be there for you. If something breaks or a problem arises, we will jump back in and try to figure out a solution. We will call the lawyer, the banker, the seller or the managing agent to get post-closing issues brought to their attention for you.
- No fee. We will never collect a penny from you or cost you anything. We save you money and as your buyer’s agent, our fee is paid by the seller as a part of the closing.
This is our pledge to you.
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